Applied Digital Corporation $APLD Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Applied Digital Corporation (NASDAQ:APLD) by 32.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 581,255 shares of the company’s stock after purchasing an additional 143,308 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Applied Digital were worth $21,681,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Independent Advisor Alliance boosted its position in shares of Applied Digital by 4.6% during the fourth quarter. Independent Advisor Alliance now owns 9,215 shares of the company’s stock worth $226,000 after buying an additional 407 shares during the period. GAMMA Investing LLC raised its holdings in shares of Applied Digital by 28.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,092 shares of the company’s stock valued at $78,000 after buying an additional 464 shares during the period. Krilogy Financial LLC lifted its stake in Applied Digital by 4.1% during the 2nd quarter. Krilogy Financial LLC now owns 14,243 shares of the company’s stock worth $531,000 after acquiring an additional 561 shares in the last quarter. Vermillion Wealth Management Inc. lifted its stake in Applied Digital by 29.4% during the 1st quarter. Vermillion Wealth Management Inc. now owns 2,563 shares of the company’s stock worth $61,000 after acquiring an additional 583 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec boosted its holdings in Applied Digital by 28.4% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 3,069 shares of the company’s stock valued at $75,000 after acquiring an additional 678 shares during the period. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Stock Performance

Shares of APLD stock opened at $26.37 on Friday. The company has a market cap of $7.69 billion, a P/E ratio of -29.63 and a beta of 5.72. The firm has a fifty day moving average price of $29.15 and a 200 day moving average price of $32.97. The company has a current ratio of 4.01, a quick ratio of 4.01 and a debt-to-equity ratio of 2.88. Applied Digital Corporation has a 12 month low of $13.16 and a 12 month high of $50.72.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings data on Monday, July 27th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.30). The business had revenue of $240.35 million during the quarter, compared to analysts’ expectations of $96.85 million. Applied Digital had a negative net margin of 37.78% and a negative return on equity of 16.42%. The company’s revenue was up 406.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.24) EPS. Sell-side analysts predict that Applied Digital Corporation will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Applied Digital

In other news, Director Richard Nottenburg sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $31.15, for a total transaction of $2,336,250.00. Following the completion of the sale, the director owned 133,378 shares in the company, valued at approximately $4,154,724.70. The trade was a 35.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price on Applied Digital from $36.50 to $37.50 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Citizens Jmp raised their price objective on shares of Applied Digital from $40.00 to $60.00 and gave the company a “market outperform” rating in a research note on Thursday, May 21st. Lucid Cap Mkts upgraded shares of Applied Digital to a “strong-buy” rating in a report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Applied Digital in a research note on Tuesday, July 21st. Finally, Compass Point reiterated a “buy” rating and set a $70.00 target price on shares of Applied Digital in a report on Friday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.15.

Applied Digital Profile

Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.